Zoom Communications (NASDAQ:ZM) Stock Rating Lowered by Wall Street Zen

Zoom Communications (NASDAQ:ZM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Rosenblatt Securities raised their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Stifel Nicolaus reduced their price objective on Zoom Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Finally, KeyCorp initiated coverage on Zoom Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Trading Up 0.7%

Shares of NASDAQ ZM opened at $77.99 on Monday. The company has a market capitalization of $23.60 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 12.95 and a beta of 0.71. Zoom Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The business has a 50 day simple moving average of $78.39 and a 200-day simple moving average of $79.20.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, equities analysts predict that Zoom Communications will post 2.93 earnings per share for the current year.

Insider Activity at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the completion of the transaction, the director now directly owns 4,728 shares in the company, valued at $363,015.84. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock worth $6,885,843 over the last quarter. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wayfinding Financial LLC acquired a new stake in Zoom Communications during the 1st quarter worth about $25,000. SouthState Corp purchased a new position in shares of Zoom Communications in the first quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Zoom Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Zoom Communications in the 4th quarter worth approximately $30,000. Institutional investors own 66.54% of the company's stock.

About Zoom Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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